Homebuyers taking out a mortgage with several of the nation’s largest lenders will have an extra three months added to the length of their deals.
Halifax has extended the duration of its mortgages for new buyers this week.
This comes as many homeowners have struggled to complete on purchases and property chains have fallen apart.
Longer deals: Halifax has extended the duration of its mortgages for new buyers this week. It comes as many homeowners struggle to complete on purchases
For homebuyers securing a two-year fix the extension would increase a mortgage term from 24 months to 27.
The move will help to counteract delays in conveyancing or completing a purchase.
Lloyds Bank and Darlington Building Society have also extended their mortgage deals by three months and Leeds Building Society increased its mortgage terms by one month.
